Pennsylvania Law Quiz

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THE PRACTICE QUIZ DOES NOT KEEP SCORE (4 Wrong = 67%, 3 Wrong = 75%)
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  1. All of the following are persons who may be exempt from the license law except:
    1. An attorney-in-fact.
    2. An attorney-at-will.
    3. An auctioneer.
    4. An employee of a public utility.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. All of the following are requirements to obtain a property through adverse possession in Pennsylvania except:
    1. Continuous possession for 20 years.
    2. Open and notorious possession.
    3. Hostile possession.
    4. The claim must be filed in court.

 

 

 

 

 

 

 

 

 

 

RIGHT!!

  1. The Consumer Notice, which advises consumers of the business relationships allowed by the Real Estate Licensing and Registration Act, must be presented:
    1. To any buyer or seller, at the first contact, where a substantive discussion about real estate occurs.
    2. At any face-to-face meeting with a buyer or seller.
    3. To buyers only, at the first substantive contact.
    4. To any buyer or seller, prior to writing a sales contract.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!!!

  1. If a licensee does not renew their license prior to the expiration date, the license may be reactivated:
    1. If they submit the proper forms and fees within 4 years (2 license terms).
    2. If they obtain 14 hours of continuing education.
    3. Only by retaking the real estate course, and retaking the state exam.
    4. Both A & B above.

 

 

 

 

 

 

 

 

 

 

COOL!!

  1. Which of the following is true about the Real Estate Recovery Fund?
    1. The maximum payout for any one claim is $20,000.
    2. The maximum payout against any company is $100,000.
    3. If the fund drops below $500,000, all licensees may be assessed up to $10 to bring the fund back to an acceptable level.
    4. All of the above.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. Protected groups under the Pennsylvania Human Relations Act include:
    1. Race, religion, occupation, marital status and sex.
    2. Race, color, religion, national origin, sexual orientation and marital and familial status.
    3. Race, creed, national origin, sex, handicap, marital status and personal appearance.
    4. Race, religion, age, handicap, sex, and familial status.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. The Pennsylvania Real Estate Commission is made up of:
    1. Nine members; five licensed as real estate brokers, one cemetery broker and three representing the public.
    2. Eleven members, including five licensed as real estate brokers, one licensed as a broker or cemetery broker, and three representing the public.
    3. Six licensed members appointed by the Governor and three consumer members elected by the public at large.
    4. Eleven members appointed by the Governor and confirmed by the state Senate, for a four-year term.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. All of the following are true except:
    1. All brokers licensed in Pennsylvania must maintain a fixed place of business in Pennsylvania.
    2. The business name must be prominently displayed on a sign outside the office.
    3. A broker must obtain an additional license for each branch office the broker maintains.
    4. If an office is in a private residence, the office must have a separate entrance.

 

 

 

 

 

 

 

 

 

 

RIGHT!!

  1. An agent is working with a buyer who has seen a house he loves, but is not for sale. The agent contacts the homeowners and tells them that they should sell their house because minorities moving into the neighborhood are bringing down property values, and they could lose a lot of money if they stay there. The agent is guilty of:
    1. Blockbusting.
    2. Steering.
    3. Redlining.
    4. Nothing. This is an acceptable business practice.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!!!

  1. A salesperson may accept a commission from:
    1. The broker with whom they are associated as a licensee.
    2. A cooperating broker.
    3. A seller.
    4. All of the above.

 

 

 

 

 

 

 

 

 

 

COOL!!

  1. To obtain a license as a real estate broker, an individual must:
    1. Be 18 years of age, hold a current real estate license in Pennsylvania or some other state, and have had 240 hours of education, including the salespersons' course.
    2. Be a high school graduate (or hold a high school equivalency), have been licensed for 10 years, complete 240 hours of education and pass an exam approved by the Commission for Real Estate Brokers.
    3. Be 21 years of age, have been licensed for 3 years as a real estate salesperson and have completed 240 hours of real estate instruction, or have had equivalent education and experience.
    4. Have been licensed to sell real estate for 3 years or have equivalent experience; have had 240 hours of education, including the salespersons' course and pass an exam approved by the Commission for Real Estate Brokers.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!

  1. Which one of the following situations would not be grounds for revocation or suspension of a real estate license?
    1. A salesperson places a "for sale" sign on a property without consent of the owner.
    2. A Pennsylvania broker accepts a referral fee for a transaction in a state where the broker is not licensed.
    3. A broker or salesperson takes a listing with an automatic renewal provision in the listing contract.
    4. A licensee fails to voluntarily furnish a copy of a listing contract to a seller at the time they sign the contract.

 

 

 

 

 

 

 

 

 

 

CORRECT!

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